The Leela’s First Earnings Report Post-IPO: Launches New Mumbai Venture

The Leela is entering a new phase of expansion following IPO, but it is not straying away from its luxury proposition as it focuses on expanding offerings at its current properties.

Schloss Bangalore, the parent company of The Leela, is expanding into Mumbai with an ultra-luxury hotel in the Bandra Kurla Complex (BKC), one of India’s most prominent business districts. The development will include more than 250 rooms and will be fully owned by the company, executives said Tuesday during Schloss Bangalore’s first earnings call following its IPO.

According to The Leela, BKC hasn’t seen any new hotel supply since 2011.

“Bandra Kurla Complex has huge untapped demand for hospitality,” said Chief Financial Officer Ravi Shankar during the call. “With no new hotel supply since 2011, the market has only 39 keys per million square feet of office space, while Delhi